UK-based teledermatology service Skin + Me has secured an additional €11 million in funding to further develop its D2C personalized prescription-based approach to skincare.
WHO: Skin + Me was founded in 2018 by James Mishreki and fellow entrepreneur Philip Wilkinson, and later joined by co-founders Horatio Cary (CEO), Mike Passey (CTO), and Rachel Jones (CCO). The teledermatology service launched in 2020, offering custom-made treatments formulated with prescription-only active ingredients. Customers simply fill out a questionnaire online and can subscribe to a personalized skincare plan. Treatment pathways are designed by Consultant Dermatologists and formulated by Pharmacist Prescribers.
WHY: The company will use the fresh funding to accelerate growth through continued innovations in personalized skincare and new marketing channels.
IN THEIR OWN WORDS: Horatio Cary, co-founder and CEO of Skin + Me, said, “The global skincare industry is worth £140bn and more than 50% of consumers are dissatisfied because they want a product that works. We built Skin + Me to make medical skincare, proven to be far more effective than any cosmetic products through decades of clinical studies, accessible to everyone. Loyalty and customer love for our products followed because they deliver results.”
Cary continued, “We’ve seen consumer awareness for prescription-only ingredients such as tretinoin grow exponentially. We expect the £140bn global skincare spend to shift quickly towards prescription-strength ingredients and Skin + Me is ideally placed as the market leader in the UK to take advantage of this trend.”
Will Gibbs, Partner, Health, Octopus Ventures, said, “Octopus Ventures takes pride in backing companies that incite positive and actionable change. Increased awareness in prescription ingredients and a growing trend towards personalization has transformed the skincare market. Skin + Me lead the charge with their accelerated growth reflecting a step change that’s seen hyper-educated consumers shun off-the-shelf products in favour of highly efficacious solutions. Across Series A and Series B funding, Octopus Ventures has invested a total of £13m to develop Skin + Me— deepening the relationship, and demonstrating their faith in the brand’s market-leading personalization strategy.”
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